On the other hand, domestic institutional investors (DIIs) were mostly sellers in the consumer sector.

Of the 16 FMCG firms, 12 companies saw an increase in their respective foreign institutional investors (FIIs) holding in three months ended September 2013 over the year-ago period, while the remaining four witnessed a decline in FIIs stake, according to a report by A C Choksi Share Brokers.

Moreover, FIIs have increased their stake by more than one percentage points in nine firms.

Experts believe that FIIs have been showing interest in the Indian FMCG companies due to their defensive appeal and besides, these stocks have been performing well on good earnings.

Interestingly, FIIs hold 42.35 per cent ownership in United Spirits at the end of September quarter, which is highest among the FMCG companies.

FIIs holding in Zydus Wellness climbed by 5.73 percentage points from the year-ago period to 7.91 per cent at the end of September 2013, while they hiked their stake in Bajaj Corp by 3.8 percentage points to 13.28 per cent and also raised their holding by 3.23 percentage points in Britannia to 19.11 per cent.

Among other companies where FIIs shored up their stake include Emami, Nestle, Dabur, Marico, Berger Paints, Asian Paints, ITC and Jyothy Laboratories.

On the other hand, FIIs reduced their exposure in HUL by 5.78 percentage points to 15.33 per cent, followed by United Spirits, where overseas investors shed their stake by 3.84 percentage points to 42.35 per cent in United Spirits.

According to the report, domestic institutional investors increased their holding in three companies -- ITC, Bajaj Corp and Colgate -- during the three months ended September 2013 over the year-ago period.

However, DIIs reduced their exposure in as many as 11 companies including HUL, GlaxoSmithKline Consumer Healthcare, Zydus Wellness and Britannia.

"FIIs are bullish on mid-cap consumer stocks while DIIs are reducing their holding in